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Hargreaves Lansdown net assets rise as new business swells to record
StockMarketWire.com
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Hargreaves Lansdown reported a rise in assets under administration for the four months through April 2021, thanks to record new business as clients ramped up contributions into their tax beneficial accounts.
For the four month period to 30 April 2021, assets under administration rose 28% to £132.9 billion, with net new active clients of 126,000 in the period.
Revenue for the period was £233.2 million, up from £190.2 million, amid record dealing volumes including elevated trading in international equities, driven by interest in US stocks from existing clients.
During the period, there was 'very strong growth with record net new business, record ISA subscriptions, record client growth, and record share dealing volumes,' the company said.
'[A]cross our tax year end campaign from 12 February to 5 April we have seen a 48% increase in new money into the ISA and SIPP accounts versus the same period last year, and a 54% increase in new ISA and SIPP account openings,' it added.
Story provided by StockMarketWire.com
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